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New SEC Chair Says Crypto Deserves Clear Rules
The Securities and Exchange Commission (SEC) has recently held its third crypto roundtable, focusing on the challenges surrounding custody rules in the context of digital assets. The discussion centered around the idea that existing SEC custody rules should not be altered for crypto assets.
During the meeting, SEC Chairman Paul Atkins emphasized the importance of clear regulations for the cryptocurrency market. He stated that “even the most responsible actors need regulatory standards to effectively safeguard customer funds.”
Atkins’ comments come as a welcome change in the tone from previous chairmen, who have been notoriously critical of cryptocurrencies. This shift suggests that the commission is moving towards adopting more constructive and collaborative approach with the digital asset community.
In other news, billionaire Tim Draper has once again made headlines for his bold claims about the future of Bitcoin. He recently stated that “gold is dead, bitcoin moves.” While some have dismissed his comments as mere hype, others see it as a vote of confidence in the potential growth of the cryptocurrency market.
The agency’s third crypto roundtable also saw the participation of Caroline Crenshaw, the lone Democratic commissioner, who expressed concerns about the risks associated with digital assets and the need for stronger regulatory oversight. Her stance highlights ongoing debates within the commission regarding the balance between investor protection and innovation in the space.
As a result of these developments, it is likely that we will see increased scrutiny on the custody rules surrounding crypto assets. This could lead to further clarification or even changes to existing regulations.
Source: https://u.today/new-sec-chair-says-crypto-deserves-clear-rules
